## |Contents||Page| |---|---|---| |Introduction
—Project Possible||| |Chair and CEO's Welcome||| |Impact in 2021/22||| |Vision, Mission and values||| |Compliance
and Public Benefit||| |Strategic Priorities||| |Activities
and Achievements||8-11| |The Added Impact ofFollow Lip||12| |Fundraising||13-14| |Future Plans for 2022/23||15| |Financial
Review and Sustainability||16-18| |Structure
Governance
and Management||19-21| |Trustees'
responsibilities
in relation tothe financial statements||22| |Statement
asto disclosure to our auditors||22| |Auditors
Re-appointment||23| |Approval||23| |Reference and Administrative|details|24| |Independent
Auditor's
Report||25-28| |Statement of Financial Activities||29| |Balance Sheet||30| |Statement of Cash Flows||31| |Accounting
Policies||32-34| |Notes to the financial statements||35-42| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||HP7 OEZ|||||||| |---|---|---|---|---|---|---|---|---|---| ||Trustees|Trustee Name||||||From|To| |||Philip Derbyshire||||||17/01/2014|Present| |||(Chair from 28/01/2021||to present)|||||| |||Antony
Houghton||||||09/01/2009|Present| |||Rev. John Shepherd||||||20/04/2012|Present| |||Charles Thompson||||||17/03/2017|Present| |||(Treasurer from 17/03/2017 to present)|||||||| |||Kaye Lillycrop||||||23/03/2018|Present| |||Rev. John Bernard||||||29/04/2021|Present| |||Francesca Compostella||||||28/04/2022|Present| |Chief|Executive|Andrew Jong until April||2022.|Dave||Pepper from May||2022.| ||Bankers|Lloyds Bank pic, 70-71|Cheapside,|||London||EC2V 6EN|| |||and|||||||| |||CAF Bank Ltd, 2S Kings||Hill Avenue,|||Kings Hill, West Mailing ME194JQ||| |Investment|Managers|Rathbone
investment|Management,||||8 Finsbury
Circus,||London| |||EC2M 7AZ|||||||| ||Auditor|Summers
Morgan —Chartered|||Accountants||||| |||Sheraton
House, Lower Road,|||Chorleywood|||WD3 SLH|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||Uhro slriclod||||Unro shl c tod||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||funds|Reshlcted funds||Total|funds|Resblcted funds|Total| ||||||||2022||M22|20M|2021|202I|2021| ||||||||0||2|8|8|2|0| |Income and endowments||||from|||||||||| |Donations
end legsues|||||||||||||| |Dunatluns|||||||||147,000|3T6,694|245,653|101,205|42S,700| |Legacies|||||||13,MI|||13,MI|194,000||194,MS| |Inwwiniwlts|||||||M,1sg|||80,159|83,103||03,109| |Furlough
Payments|||||||||||1,851||1,051| |Total Income snd|Endowmsnh!||||||322,200||147,080||52AMT|101,205|705,712| |Brpendimrs
on:|||||||||||||| |Ralslhg firhds|||||||||||||| |Fundrelsing
end dcnor||support|||||199,622||||||127,330| |Inumlment
management|||fees||||24,706||||||24,277| ||||||||||||||151,619| |Charitable
scgvltles|||||||||||||| |Afiica|||||||343,M6||77,012|420,510|220,915|105,777|326,692| |Amencm|||||||44,067||16,372|M,429|42,403|0,755|52,210| |Asia|||||||04,666||04,497|149,163|604,040|79,072|Tshsis| |Eiilopo 0 Middle East|||||||||||935||935| |Govemsrce scam||||||||||0,702|0,000||S,800| |Total chargable
expenditure|||||3||||||||| |Total Expenditure|||||||||147001|861 Mg|||| |Net Incornel(expend|nure)|||before|||||||||| |Investment
gainer(losses)|||||||(390,073)||(013)|(391,006)|(582,9ST)|(14,109)|(597,160)| |Net gainelgosses)|on||||||||||||| |liliiosbuorlte||||||||||156,960|579,970||679,070| |Net Income/(expenditure)|||||||(233,913)||(S13)|(234,726)|(2,0801|(I4,159)|(17,107)| |Transfers between|funds||||||||||||| |Net movement
in|funds||||||(2$3,513)||(013)|(234,726)|(2,9M)|(14,199)|(17,1$7)| |Fund balances al 1|Apnl||2021||||||16,266|3,395,003|3,301,725|30,406|3,412,180| |Fund balances st|31|March 2022|||||||'I5,453|3,160,277|3,37IL737|16,200|3,306,003| |Nona ofIhe chwitabls||scsubes were acquired||||or ciacontinued|In ths year snd there wars no|recognised|gains orlosses other than shown||shoe.||| ## |Annual
Report a
Balance|nd Financial Statements
for the
Sheet|year ended 31March|2022|||| |---|---|---|---|---|---|---| ||||2022||2021|| ||Notes|||||| |Fixed assets||||||| |Tangible assets||||||134| |Investments||||3,305,374||3,442,950| |||||3,M5,374||3,443,084| |Current assets||||||| |Debtnrs||152,570|||204,584|| |Cash at bank and in|hand||||243,823|| |||263,309|||448,407|| |Creditors: amounts|faalng due|||||| |within one year|9|98|9|||| |Net current assets||||||| |Total assets less current liabilities||||3,469,844||3,818,389| |Creditors: amounts|falling|||l309,567)||(423,386)| |due after one year||||||| |Net Assets||||||| |Charity funds||||||| |Restricted funds|10|||15,453||16,266| |Unrestricted
funds:||||||| |Designated
funds||||2,426,703||2,905,623| |General fund|12|||718,121||473,114| |Totalfunds||||3,160,277||3,395,003| ## ## |||||2022|2021| |---|---|---|---|---|---| ||||||6| |Cash flows from operating|activities||||| |Net cash used in by operating
activities||||(483,073)|(292,895)| |Cash flows from investing|activities||||| |Interest from investments||||13|| |Sale ofshort term investments|||||| |Proceeds on disposal ofinvestments||||349,976|261,931| |Net cash provided
by/(used|in) investing|activities||349,989|261,950| |Changes in cash and cash|equivalents|during the year||(133,084)|(30,945)| |Cash and cash equivalents|brought
forward||||274.768| |Cash and cash equivalents|carried forward|||110,739|243,823| |Reconciliation ofnet movements
in funds to net cash flow from operating|||activities||| |Net movement
in funds for|the year (as|per Statement offinancial activities)||(391,686)|(597,166)| |AdJustment
for:|||||| |Depreciation
charges||||134|407| |Interest from investments||||(13)|(19)| |Dividends
and interest retained
in investment
portfolio||||(80,146)|(83,084)| |Management
fees charged|to investment|portfolio||24,706|24,277| |(Increase)/decrease
in debtors||||52,014|(104,980)| |increase/(decrease)
in creditors||||(88,082)|467,670| |Net cash used in operating|activities||||| ## ## ## ## ## |2|Donations|and legacies|and legacies|||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---|---|---|---| |||||||Funds|Funds||| |||||||2022|2022|2022|2021| ||Donations|||||6|6|6|6| ||Other gifts|and donations||||228,526|147,068|375,594|426,758| ||||||||||426,758| ||Donations|||||2021f|2021|2021
E|| ||Other gifts|and donations||||245,553|181,205|426,758|| |||||||||426,758|| |3|Resources|expended|||||||| ||||||Staff costs|Other costs|Grant funding|Total|Total| ||||||2022|2022|2022|2022|2021| ||||||6|f||6|6| ||Costs ofgenerating||funds||||||| ||Fundraising|and donor support|||77,326|122,196||199,522|127,338| ||Investment|management||fees||24,706||24,706|24,277| ||Total|||||||224 228|151615| |Charitable
activities|Charitable
activities|||||| |---|---|---|---|---|---|---| |Africa||||||| |Grant funding|1|||259,301|259,301|269,622| |Grant making|2|57,517|18,788||76,305|23,819| |Support costs|3|55,567|29,345||84912|33251| |Total||113,084|48,133|259,301|420,518|326,692| |America||||||| |Grant funding|1|||37,262|37,262|43,096| |Grant making|2|8,265|2,700||10,965|3,807| |Support costs|3|7,985|4,217||12,202|5,315| |Total||16,250|6,917|37,262|607I29|52,218| |Asia||||||| |Grant funding|1|||91,978|91,978|631,210| |Grant making|2|20,402|6,664||27,066|55,764| |Support costs|3|19,710|10409||30119|77844| |Total||40,112|17,073|91,978|149,163|764,818| |Europe a Middle East||||||| |Grant funding|1|||||771| |Grant making|2|||||69| |Support costs|3|||||95| |Tote I||||||935| |Total||||||| |Grant funding|1|||388,541|388,541|944,699| |Grant making|2|86,185|28,152||114,337|83,459| |Supportcosts|3|83,262|43,970||127,233|116,505| ||||72,122|||| ## |3|Resources expended|Resources expended|Resources expended|(continued)|(continued)|(continued)|(continued)|||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||Staff costs|Other costs|Grant funding|Total|Total| |||||||||||2022|2022|2022|2022|2021| |||||||||||E|E|E|E|E| ||1Grant funding||is direct grants||||made to Partners.|||||||| ||2 Grant making||is direct liaison||||with Partners|and||||||| ||managing
the|relationship||||in its|entirety.|||||||| ||3 Support costs||includes||all other administration.||||The costs are|||||| ||apportioned
across grants|||||by reference togrants|||by area to total|||||| ||grants
payable.|||||||||||||| ||Governance costs -|||audit||fees|||||6,702||6,702|| ||Totalresourcesexpended|||||||||||||| |||||||||||2021|2021|2021|2021|| |||||||||||E|E|E|E|| ||Costs ofgenerating|||funds||||||||||| ||Pundralsing
and donor support
Investment
management
fees
Total|||||||||71,902
55,436
24,277
IseL~|||127,338
24,277|| ||Charitable
activities|||||||||||||| ||Africa|||||||||||||| ||Grant funding|1||||||||||269,622|269,622|| ||Grant making|2||||||||22,269|1,550||23,819|| ||Supportcosts|3||||||||21966|11285||33251|| ||Total|||||||||44,235|12,835|269,622|326,692|| ||America|||||||||||||| ||Grant funding|1||||||||||43,096|43,096|| ||Grant making|2||||||||3,559|248||3,807|| ||Support costs|3||||||||3511|1,804||5315|| ||Tots I|||||||||7,070|2,052|43,096|52,218|| ||Asia|||||||||||||| ||Grant funding|1||||||||||631,210|631,210|| ||Grant making|2||||||||52,135|3,629||55,764|| ||Supportcosts|3||||||||51425|26,419||77844|| ||Total|||||||||103,560|30,048|631,210|764,818|| ||Europe 8Middle East|||||||||||||| ||Grant funding|1||||||||||771|771|| ||Grant making|2||||||||64|5||69|| ||Supportcosts|3||||||||63|32||95|| ||Total|||||||||127|37|771|935|| ||Total|||||||||||||| ||Grantfunding|1||||||||||944,699|944,699|| ||Grant making|2||||||||78,027|5,432||83/59|| ||Support costs|3||||||||76 965|39,540||116505|| |||||||||||||944,699|1,144,663|| ||Governance
costs -|||audit||fees|||||||6,600|| ||Totalresources||expended|||||||||vuLL|~larva|| ## |3|Resources expended|(continued)|(continued)|||||||| |---|---|---|---|---|---|---|---|---|---|---| ||Grants payable|||||Area|Unrestricted|Restricted|Total|Total| ||||||||Funds|Funds||| ||||||||2022f|2022|2022
6|2021
E| ||Grants to Institutions:|||||||||| ||Youth Action Uganda|||||Africa|39,160|3,187|42,347|48,774| ||Changemakers
South|Africa||||Afriica|40,172|8,826|48,998|25,177| ||Nightingale
Eye Ik Ortho Clinic|||||Africa|35,678|8,443|44,121|64,892| ||FEEEJ|||||Africa|8,327|5,680|24,007|23,333| ||Word made Flesh|||||America|18,697|8,940|27,638|20,562| ||Jehovah Jira Ministries|||||Asia|(8,950)|10,509|1,560|151,795| ||Asha Ieran Society|||||Asia|40,764|11,924|52,688|53,981| ||Shining
Light Community||Development||Organisation|Asia|16,780|8,468|25,248|13,11.9| ||Project Macedonia|||||Europe||||771| ||Uttara|||||Asia|(48,728)|1,200|(47,528)|87,431| ||Alikadam|||||Asia|(45,682)|287|(45395)|46,817| ||Ebeneezer|||||Asia|(17,338)|3,495|(13,843)|32,083| ||Grace Home|||||Asia|40,584|4,247|44,831|67,569| ||Dolpa Home|||||Asia|53,415|11,533|64,947|132,617| ||Other institutions||||||67,527|60,842|128,370|173,243| ||||||||240,4D7|147,581|387,988|942,164| ||Grants to individuals|||||||||| ||(1grant, 2021:1 grant)||||||252||552|2,534| ||||||||240,659|147881|388540|944,698| ||||||||2021|2021|2021|| ||||||||6|6|6|| ||Gmms to Instltutlonsr'|||||||||| ||Youth Action Uganda|||||Africa|37,513|11,261|48,774|| ||Change
makers
South|Africa||||Africa|14,217|10,960|25,177|| ||Nightingale
Eye gr Ortho Clinic|||||Africa|22,840|42,052|64,892|| ||FEEEJ|||||Africa|23,333||23,333|| ||Word made Flesh|||||America|14,408|6,154|20,562|| ||Jehovah lira Ministries|||||Asia|19,944|17,813|37,757|| ||Asha Kiran SocietY|||||Asia|23,609|30,372|53,981|| ||Dolpa Home|||||Asia|4,125|15,382|19,507|| ||Shining
Light Community||Development||Organisation|Asia|12,807|312|13,119|| ||Project Macedonia|||||Europe|771||771|| ||Uttara - approved,
not yet paid|||||Asia|87,431||87,431|| ||Allkadam
-approved,|not paid||||Asia|46,817||46,817|| ||Ebeneezer-
approved,|not paid||||Asia|32,083||32,083|| ||Jehovah lira Ministries||-approved,|not|paid|Asia|114,038||114,038|| ||Grace Home - approved,||not paid|||Asia|67,569||67,569|| ||Dolpa Home - approved,||not paid|||Asia|113,110||113,110|| ||Other institutions||||||114,679|58,564|173,243|| ||||||||749,294|192,870|942,164|| ||Grants to individuals|(1grant)||||||2,534|2,534|| ## ||Other costs includes||||2022|2021| |---|---|---|---|---|---|---| ||||||E|E| ||Office rent and rates||||18,628|17,548| ||Office supplies||||11,858|12,197| ||Computers,
IT and consultancy||||21,331|17,471| ||Partners
support costs||||22,266|70| ||PR and marketing||||113,955|51,779| ||staff training,
travel and other expenses||||lr494|936| ||Audit fee||||6,702|6,600| ||Investment
portfolio management|costs|||24,706|24,277| ||Depreciation offinings and equipment||||134|407| ||||||221,073|131,285| |4|Remuneration
ofkey management||personnel|||| ||The remuneration
of key management||personnel|is as follows:|2022|2021| ||||||E|E| ||Aggregate
remuneration||||41,757|41,751| ## |There were no employ|ees
whose annual
emol|uments
were E60,000or more (2021:0).||| |---|---|---|---|---| |Employment
costs|||2022|2021| |||||E| |Wages and salaries|||220,157|204,456| |social security costs|||15,795|13,191| |Employer contribution|to defined contribution|pension scheme|202I22|9,247| ## |6|Tangible need asse|ts|||||| |---|---|---|---|---|---|---|---| ||||||Fittings||8| ||||||Equipment||| ||||||||f| ||Cost||||||| ||At 1April 2021||||»|433|| ||At 31March 2022||||||| ||Depreciation||||||| ||At 1April 2021||||17,298||| ||Charge foryear|||||134|| ||At 31March 2022||||~33||| ||lect book value:||||||| ||At 31March 2022||||||| ||At 31March 2021|||||134|| |7|Investments||||||| |||||Quoted|Total||| ||listed onarecognised Stock erichonpe|||Investmentsf|||| ||At market value||||||| ||At 1April 2021|||3,442,950|3,442,950||| ||Additions at cost|||447,995|447,995||| ||Disposals at cunent|value||(740,487)|(740jI87)||| ||Realised gain/(loss)|on disposal||(1,022)|(1,022)||| ||Unrealised
increase/(decrease)||in market value|155,938|155,938||| ||At 31March 2022|||3,305,374|3,305,374||| ||Investments
at the|year end consisted of:|||||| ||Listed securities|||3,158,289|||| ||Cash awaiting
investment|||147,085|||| |||||3W5,374|||| ||At cost||||||| ||At 1April 2021|||3,124,343|||| ||Additions|||447,995|||| ||Disposals|||(666,701)|||| ||At 31March 2022|||2,905,637|||| ## ## ## ## |||Balance at 1|||||Balance at 31| |---|---|---|---|---|---|---|---| |||April 2021||Movement|in funds||March 2022| ||||Incoming|Resources||Transfers,|| ||||resources|expended
E
f||gains &losses
E|| |Development
fund - Acorn gift||2,105,623||(400,002)||(33,581)|1,672,040| |Brighter Futures|fund||||||| |sustainabilityfund||500,000|||(40,767)||459,233| |Climate change|fund|200,000|||||200,000| |New technology|fund|50,000|||||50,000| |Covid-19 impact|fund|50,000|||(4,570)||45,430| |||2,905,623||~5531||~5355|~6'IDI| ||||2,905,623|||~5|5|3|1|~5|355|~6'IDI| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||Balance at 1|||||||||Balance at 31| ||||April 2020|||Movement||in funds||||March 2021| |||||Incoming||Resources||||Transfers,||| |||||resources||expended|||f|gains|3 losses
f|| |Development|fund - Acorn gift||2,105,623|||||||||2,105,623| |Brighter Futures||Fund|800,000||||||||(800,000)|| |Sustainabilityfund|||||||||||500,000|500,000| |Climate change||fund|||||||||200,000|200,000| |New technology||fund|||||||||50,000|50,000| |Covid-19 impact||fund|||||||||50,000|50,000| ||||2555623|||||||||D| |The Chad5ty|received a large gift from The Acorn Foundation|||during|an earlier year||which the Trustees||||have set aside forthe|| |development|of|the Cha dty and its activities over the forthcoming|||years|including|building||the s|usta inability
of||the Charity's| |partners
and|the|Charity itself.||||||||||| ## ## ||||||Balance at 1|Balance at 1||||Balance at 31| |---|---|---|---|---|---|---|---|---|---|---| ||||||April 2021||Movement
In funds|||March 2022| ||||||||Incoming|Resources|Transfers,|| ||||||||resources|expended|gains 83losses|| ||||||||E|E|E|| ||Unrestricted|funds||||473 114|322286|~267820|190541|718,121| ||||||Balance at 1|||||Balance at 31| ||||||April 2020||Movement
in funds|||March 2021| ||||||||Incoming|Resources|Transfers,|| ||||||||resources|expended|gains 83lomes|| ||||||||E|E|E|| ||Unrestdcted|funds|||||524,507|(1,107,474)|579,979|473,114| |13|Analysis of|net assets between||funds||||||| |||||||||Unrestricted|Restricted|Total| |||||||||E||E| ||Fund balances at 31||March 2022 are represented|||by:||||| ||Tangible fixed assets|||||||||| ||Investment|assets||||||3,305,374||3,305,374| ||Current assets|||||||247,856|15,453|263,309| ||Creditors - amounts
Creditors - amounts||falling due within one year
falling due after one year|||||(98,839)
~30956||(98,839)
~50956| ## |The total|future lease|payments
under non-cancellable|payments
under non-cancellable|payments
under non-cancellable|operating
leases are:|operating
leases are:|2022|2021| |---|---|---|---|---|---|---|---|---| ||||||||E|E| |Land and|buildings:|||||||| |Minimum|lease payments||on leases with expiry in|two|to five|years:||53,640| |The expense charged||in|the Statement of Financial|Activities||in the year amounted|to E17,880 (2021616,800).|| ## ##